Sofinnova Investments, Inc.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed August 14, 2024), Sofinnova Investments, Inc. reported 66 stock positions worth $1.7 billion. Its top holding was Natera (NTRA) at 8.4% of the portfolio, followed by Vera Therapeutics (VERA, 7.1%) and Ascendis Pharma A/S (ASND, 6.7%). Compared with Q4 2023, it opened 27 new positions, sold out of 20, added to 18 and reduced 13. The biggest buy was a new position in Novo-Nordisk A/S-Spons ADR (NVO) and the biggest sale an exit from Karuna Therapeutics (KRTX).
- Most Recent 13F
- Q2 2026
- Location
- Menlo Park, CA
- CIK
- 0001631134
- Portfolio Value
- $1.7B (Q1 2024)
- SEC Filing
- 0001104659-24-089526 ↗ filed Aug 14, 2024
Holdings Value
Holdings 66 stocks · $1.7B
| NTRA Natera Inc. | 8.37% | 1,550,280 | $141.8M | No change |
| VERA Vera Therapeutics Inc. | 7.11% | 2,793,987 | $120.5M | Reduce -19.4% |
| ASND Ascendis Pharma A/S | 6.73% | 754,032 | $114.0M | No change |
| AEROVATE THERAPEUTICS INC | 6.56% | 3,758,686 | $111.1M | No change |
| MRK Merck & Co. Inc. | 5.07% | 651,299 | $85.9M | Reduce -24.1% |
| NVO Novo-Nordisk A/S-Spons ADR | 4.64% | 611,884 | $78.6M | New |
| INCY Incyte Corp. | 4.46% | 1,327,178 | $75.6M | Add +347.5% |
| ARGX Argenx SE - ADR | 3.47% | 149,300 | $58.8M | Add +233.8% |
| ISRG Intuitive Surgical Inc. | 3.32% | 140,880 | $56.2M | Add +11.0% |
| DYN Dyne Therapeutics Inc. | 3.25% | 1,936,650 | $55.0M | Add +91.1% |
| INHIBRX INC | 2.69% | 1,302,645 | $45.5M | Add +68.5% |
| ELAN Elanco Animal Health Inc. | 2.46% | 2,555,547 | $41.6M | Add +114.0% |
| IDXX Idexx Laboratories Inc. | 2.40% | 75,224 | $40.6M | New |
| AZN Astrazeneca PLC-Spons ADR | 2.39% | 596,713 | $40.4M | Reduce -29.9% |
| SNDX Syndax Pharmaceuticals Inc. | 2.26% | 1,608,540 | $38.3M | Add +49.5% |
| PODD Insulet Corp. | 2.23% | 220,203 | $37.7M | Add +1059.0% |
| YMAB Y-Mabs Therapeutics Inc. | 2.11% | 2,194,278 | $35.7M | No change |
| IDYA Ideaya Biosciences Inc. | 2.02% | 781,596 | $34.3M | Reduce -46.4% |
| CLDX Celldex Therapeutics Inc. | 1.99% | 801,777 | $33.7M | Reduce -5.0% |
| INZY Inozyme Pharma Inc. | 1.94% | 4,280,308 | $32.8M | No change |
| ALGN Align Technology Inc. | 1.85% | 95,478 | $31.3M | New |
| AVBP Arrivent Biopharma Inc. | 1.79% | 1,696,752 | $30.3M | New |
| TGTX TG Therapeutics Inc. | 1.78% | 1,984,962 | $30.2M | New |
| SRPT Sarepta Therapeutics Inc. | 1.74% | 227,488 | $29.5M | New |
| BSX Boston Scientific Corp. | 1.43% | 353,851 | $24.2M | Add +170.1% |
| IMTX Immatics NV | 1.34% | 2,163,646 | $22.7M | Reduce -27.1% |
| SILK Silk Road Medical Inc. filed as SILK RD MED INC | 1.29% | 1,189,024 | $21.8M | New |
| COGT Cogent Biosciences Inc. | 0.95% | 2,400,771 | $16.1M | New |
| EXAS Exact Sciences Corp. | 0.94% | 229,481 | $15.8M | New |
| ALNY Alnylam Pharmaceuticals Inc. | 0.91% | 103,036 | $15.4M | New |
| IMNM Immunome Inc. | 0.87% | 594,396 | $14.7M | New |
| PHVS Pharvaris NV | 0.80% | 584,672 | $13.5M | Add +14.5% |
| MRNS Marinus Pharmaceuticals Inc. | 0.75% | 1,401,053 | $12.7M | Reduce -21.0% |
| SVRA Savara Inc. | 0.69% | 2,347,261 | $11.7M | Reduce -1.5% |
| SWAV Shockwave Medical Inc. | 0.67% | 35,000 | $11.4M | New |
| KURA Kura Oncology Inc. | 0.63% | 501,940 | $10.7M | Reduce -69.9% |
| ROIV Roivant Sciences Ltd. | 0.62% | 1,001,704 | $10.6M | New |
| AXONICS INC | 0.61% | 149,385 | $10.3M | New |
| PEPG Pepgen Inc. | 0.44% | 503,624 | $7.4M | Add +2086.1% |
| CABA Cabaletta Bio Inc. | 0.43% | 429,746 | $7.3M | Add +0.1% |
| ESTA Establishment Labs Holdings | 0.42% | 141,162 | $7.2M | Add +4525.2% |
| ACHV Achieve Life Sciences Inc. | 0.41% | 1,518,230 | $6.9M | New |
| SLNO Soleno Therapeutics Inc. | 0.38% | 150,775 | $6.5M | Add +12464.6% |
| FDMT 4D Molecular Therapeutics Inc. | 0.37% | 198,186 | $6.3M | New |
| NXTC Nextcure Inc. | 0.35% | 2,671,856 | $6.0M | No change |
| AVTR Avantor Inc. | 0.35% | 232,446 | $5.9M | New |
| MDGL Madrigal Pharmaceuticals Inc. | 0.30% | 19,029 | $5.1M | New |
| BOLT Bolt Biotherapeutics Inc. | 0.23% | 2,754,437 | $3.9M | No change |
| FUSN Fusion Pharmaceuticals Inc. | 0.20% | 157,172 | $3.4M | Add +25.4% |
| MASI Masimo Corp. | 0.17% | 20,000 | $2.9M | Add +56.3% |
| TFX Teleflex Inc. | 0.16% | 12,142 | $2.7M | New |
| COO The Cooper Cos Inc. | 0.13% | 21,236 | $2.2M | Add +32.7% |
| INSP Inspire Medical Systems Inc. | 0.10% | 8,099 | $1.7M | New |
| LIVN Livanova PLC | 0.07% | 20,456 | $1.1M | New |
| NUCANA PLC | 0.05% | 3,400,739 | $884K | Reduce -27.4% |
| AMLX Amylyx Pharmaceuticals Inc. | 0.05% | 306,729 | $871K | New |
| BAX Baxter International Inc. | 0.05% | 20,000 | $855K | New |
| PDSB PDS Biotechnology Corp. | 0.03% | 142,635 | $565K | No change |
| IKENA ONCOLOGY INC | 0.03% | 382,616 | $543K | Add +5.3% |
| CATX Perspective Therapeutics Inc. | 0.03% | 430,105 | $512K | New |
| NARI Inari Medical Inc. | 0.03% | 10,216 | $490K | New |
| IRON Disc Medicine Inc. | 0.02% | 6,173 | $384K | New |
| GPCR Structure Therapeutics Inc. | 0.02% | 8,733 | $374K | Reduce -95.0% |
| Nucana PLC | 0.02% | 1,307,875 | $340K | Reduce -45.5% |
| KYTX Kyverna Therapeutics Inc. | 0.01% | 10,000 | $248K | New |
| MIRM Mirum Pharmaceuticals Inc. | 0.00% | 3,012 | $76K | Reduce -99.2% |
Options reported separately and not counted above: XBI puts ($80.7M), MRNS puts ($9.0M), MRNS calls ($7.7M), INSM calls ($2.7M), AMLX puts ($852K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $853K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| IMTXW Immatics NV -CW | *W EXP 07/01/202 | 316,349 | $853K | Reduce -0.6% |
Total filed on the 13F, all lines: $1.7B.
Portfolio Sells Q4 2023 → Q1 2024
| KRTX Karuna Therapeutics Inc. | Sold out | 0.00% | −24.50 |
| RYZB Rayzebio Inc. | Sold out | 0.00% | −8.43 |
| IMGN Immunogen Inc. | Sold out | 0.00% | −2.57 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −2.11 |
| CYTK Cytokinetics Inc. | Sold out | 0.00% | −1.94 |
| CBAY Cymabay Therapeutics Inc. | Sold out | 0.00% | −1.87 |
| SNY Sanofi-ADR | Sold out | 0.00% | −1.67 |
| KVUE Kenvue Inc. | Sold out | 0.00% | −1.46 |
| SYK Stryker Corp. | Sold out | 0.00% | −1.05 |
| GERN Geron Corp. | Sold out | 0.00% | −1.04 |
| IDYA Ideaya Biosciences Inc. | Reduce -46.4% | 2.02% | −0.88 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -29.9% | 2.39% | −0.82 |
| AGEN Agenus Inc. | Sold out | 0.00% | −0.73 |
| KURA Kura Oncology Inc. | Reduce -69.9% | 0.63% | −0.71 |
| MIRM Mirum Pharmaceuticals Inc. | Reduce -99.2% | 0.00% | −0.58 |
| IMVT Immunovant Inc. | Sold out | 0.00% | −0.53 |
| IMTX Immatics NV | Reduce -27.1% | 1.34% | −0.41 |
| MLTX Moonlake Immunotherapeutics | Sold out | 0.00% | −0.39 |
| GPCR Structure Therapeutics Inc. | Reduce -95.0% | 0.02% | −0.38 |
| MRNS Marinus Pharmaceuticals Inc. | Reduce -21.0% | 0.75% | −0.33 |
| IRWD Ironwood Pharmaceuticals Inc. | Sold out | 0.00% | −0.21 |
| MRK Merck & Co. Inc. | Reduce -24.1% | 5.07% | −0.17 |
| DXCM Dexcom Inc. | Sold out | 0.00% | −0.14 |
| PEN Penumbra Inc. | Sold out | 0.00% | −0.03 |
| NUCANA PLC | Reduce -27.4% | 0.05% | −0.03 |
| GALERA THERAPEUTICS INC | Sold out | 0.00% | −0.03 |
| Nucana PLC | Reduce -45.5% | 0.02% | −0.02 |
| FULC Fulcrum Therapeutics Inc. | Sold out | 0.00% | −0.01 |
| SPRB Spruce Biosciences Inc. | Sold out | 0.00% | −0.00 |
| VIR Vir Biotechnology Inc. | Sold out | 0.00% | −0.00 |
| SVRA Savara Inc. | Reduce -1.5% | 0.69% | +0.06 |
| CLDX Celldex Therapeutics Inc. | Reduce -5.0% | 1.99% | +0.11 |
| VERA Vera Therapeutics Inc. | Reduce -19.4% | 7.11% | +4.12 |
Portfolio Buys Q4 2023 → Q1 2024
| NVO Novo-Nordisk A/S-Spons ADR | New | 4.64% | +4.64 |
| INCY Incyte Corp. | Add +347.5% | 4.46% | +3.42 |
| ARGX Argenx SE - ADR | Add +233.8% | 3.47% | +2.52 |
| DYN Dyne Therapeutics Inc. | Add +91.1% | 3.25% | +2.49 |
| IDXX Idexx Laboratories Inc. | New | 2.40% | +2.40 |
| PODD Insulet Corp. | Add +1059.0% | 2.23% | +2.00 |
| ALGN Align Technology Inc. | New | 1.85% | +1.85 |
| AVBP Arrivent Biopharma Inc. | New | 1.79% | +1.79 |
| TGTX TG Therapeutics Inc. | New | 1.78% | +1.78 |
| SRPT Sarepta Therapeutics Inc. | New | 1.74% | +1.74 |
| ELAN Elanco Animal Health Inc. | Add +114.0% | 2.46% | +1.46 |
| SILK Silk Road Medical Inc. | New | 1.29% | +1.29 |
| INHIBRX INC | Add +68.5% | 2.69% | +1.04 |
| BSX Boston Scientific Corp. | Add +170.1% | 1.43% | +1.01 |
| SNDX Syndax Pharmaceuticals Inc. | Add +49.5% | 2.26% | +0.96 |
| COGT Cogent Biosciences Inc. | New | 0.95% | +0.95 |
| EXAS Exact Sciences Corp. | New | 0.94% | +0.94 |
| ISRG Intuitive Surgical Inc. | Add +11.0% | 3.32% | +0.92 |
| ALNY Alnylam Pharmaceuticals Inc. | New | 0.91% | +0.91 |
| IMNM Immunome Inc. | New | 0.87% | +0.87 |
| SWAV Shockwave Medical Inc. | New | 0.67% | +0.67 |
| ROIV Roivant Sciences Ltd. | New | 0.62% | +0.62 |
| AXONICS INC | New | 0.61% | +0.61 |
| PEPG Pepgen Inc. | Add +2086.1% | 0.44% | +0.43 |
| ESTA Establishment Labs Holdings | Add +4525.2% | 0.42% | +0.42 |
| ACHV Achieve Life Sciences Inc. | New | 0.41% | +0.41 |
| SLNO Soleno Therapeutics Inc. | Add +12464.6% | 0.38% | +0.38 |
| FDMT 4D Molecular Therapeutics Inc. | New | 0.37% | +0.37 |
| AVTR Avantor Inc. | New | 0.35% | +0.35 |
| MDGL Madrigal Pharmaceuticals Inc. | New | 0.30% | +0.30 |
| TFX Teleflex Inc. | New | 0.16% | +0.16 |
| FUSN Fusion Pharmaceuticals Inc. | Add +25.4% | 0.20% | +0.13 |
| INSP Inspire Medical Systems Inc. | New | 0.10% | +0.10 |
| MASI Masimo Corp. | Add +56.3% | 0.17% | +0.09 |
| LIVN Livanova PLC | New | 0.07% | +0.07 |
| AMLX Amylyx Pharmaceuticals Inc. | New | 0.05% | +0.05 |
| BAX Baxter International Inc. | New | 0.05% | +0.05 |
| COO The Cooper Cos Inc. | Add +32.7% | 0.13% | +0.04 |
| CATX Perspective Therapeutics Inc. | New | 0.03% | +0.03 |
| NARI Inari Medical Inc. | New | 0.03% | +0.03 |
| IRON Disc Medicine Inc. | New | 0.02% | +0.02 |
| KYTX Kyverna Therapeutics Inc. | New | 0.01% | +0.01 |
| PHVS Pharvaris NV | Add +14.5% | 0.80% | −0.00 |
| IKENA ONCOLOGY INC | Add +5.3% | 0.03% | −0.01 |
| CABA Cabaletta Bio Inc. | Add +0.1% | 0.43% | −0.11 |
Options Activity Q4 2023 → Q1 2024
| XBI SS SPDR S&P Biotech ETF | put | New | 850,000 | $80.7M |
| MRNS Marinus Pharmaceuticals Inc. | put | New | 1,000,000 | $9.0M |
| MRNS Marinus Pharmaceuticals Inc. | call | Add +754.7% | 854,700 | $7.7M |
| INSM Insmed Inc. | call | New | 100,000 | $2.7M |
| AGEN Agenus Inc. | call | Sold out | 1,600,000 | $1.3Mbefore exit |
| AMLX Amylyx Pharmaceuticals Inc. | put | New | 300,000 | $852K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2023 → Q1 2024
| IMTXW Immatics NV -CW | *W EXP 07/01/202 | Reduce -0.6% | 316,349 | $853K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 53 | $1.9B | NTRA, VERA, GMAB, JAZZ, RAPP |
| Q1 2026 | 61 | $2.0B | NTRA, BMY, JAZZ, VERA, UTHR |
| Q4 2025 | 60 | $2.3B | NTRA, JAZZ, AZN, VERA, BMY |
| Q3 2025 | 55 | $1.6B | NTRA, GILD, VERA, UTHR, JAZZ |
| Q2 2025 | 55 | $1.5B | NTRA, GILD, LLY, JAZZ, VERA |
| Q1 2025 | 59 | $1.3B | NTRA, SYK, VERA, JAZZ, MDT |
| Q4 2024 | 60 | $1.4B | NTRA, VERA, GILD, ABBV, JAZZ |
| Q3 2024 | 56 | $1.2B | NTRA, VERA, NVO, AZN, IDYA |
| Q2 2024 | 71 | $1.6B | NTRA, VERA, ASND, NVO, EW |
| Q1 2024Amended | 66 | $1.7B | NTRA, VERA, ASND, AEROVATE THERAPEUTICS INC, MRK |